The one you referenced would probably be fine, with a few considerations. Many HDEOs, even in 10w-30 or 5w-30, even if they are SM or better are not GF-4 or better - they don't have the resource conserving designation. So, it's not the "ideal" choice for someone who has a vehicle under warranty that requires both SM and GF-4 or better.
If it meets standards or the vehicle is out of warranty, I wouldn't have a problem with it. My old Audi and F-150 both have specs that are met perfectly by various HDEOs, so I've used them in both vehicles without concern. In my G37 under warranty, requiring 5w-30 SM/GF-4 or better, I'd think twice.
As for the differences between the HDEO and the PCMO, the former generally has a different detergent package, higher TBN (though not always the case with low SAPS oil now), and higher ZDDP content. I'm sure there are other differences (like friction modifiers, or lack thereof more likely) that disqualify them from a current ILSAC rating. Others are more knowledgeable about this than I am.
